SF 46

1st Engrossment - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to lawful gambling; increasing the percentage 
  1.3             of gross profit that may be expended for allowable 
  1.4             expenses; amending Minnesota Statutes 1994, section 
  1.5             349.15, subdivision 1. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1994, section 349.15, 
  1.8   subdivision 1, is amended to read: 
  1.9      Subdivision 1.  [EXPENDITURE RESTRICTIONS.] Gross profits 
  1.10  from lawful gambling may be expended only for lawful purposes or 
  1.11  allowable expenses as authorized by the membership of the 
  1.12  conducting organization at a monthly meeting of the 
  1.13  organization's membership.  Provided that no more than 60 65 
  1.14  percent of the gross profit less the tax imposed under section 
  1.15  297E.02, subdivision 1, from bingo, and no more than 50 55 
  1.16  percent of the gross profit from other forms of lawful gambling, 
  1.17  may be expended for allowable expenses related to lawful 
  1.18  gambling.